The global 8-bit microcontroller market size was valued at USD 7.5 Bn in 2022 and is projected to reach USD 12.89 Bn by 2031, expanding at a CAGR of 6.20% during the forecast period, 2023–2031. The growth of the market is attributed to the high usage in various devices that needed a substantial degree of control utilized and growing competition in different industries has decreased the cost of the product.
8-bit microcontrollers are digital signal processor and IP core chips that are the backbone of all the products and systems, which are used by consumers to travel, work, increase comfort, communicate, entertain, and produce energy. The 8-bit microcontrollers use the word size of 8 bits, which means its assembly instructions are 8-bit each, internal registers are 8-bit wide, and memory access read 8-bit.
The 8-bit microcontroller executes the assembly commands in one instruction cycle apart from fetches and branches. Smart grids use smart meters for a communication channel to communicate. Microcontrollers are used to ensure the communication between the physical locations. Microcontrollers also decrease the price of medical devices and also provide information of the patients.
8-Bit Microcontroller Market Trends, Drivers, Restraints, and Opportunities
Rising adoption of internet of things enabled devices is anticipated to spur the market expansion during the forecast period.
Increasing initiatives for smart homes globally is major factors pushing the market growth.
High cost affecting the performance parameters is estimated to restrict the market expansion in the coming years.
Large number of key players present in the market act as major challenge that can impede the market growth.
Emergence of smart grid applications and rising mobile data traffic is projected to create significant opportunities for the market players.
R&D investment and technological advancement in 8-bit microcontroller is expected to offer lucrative opportunities for the market players.
Scope of 8-Bit Microcontroller Market Report
The report on the global 8-bit microcontroller market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
8-bit Microcontroller Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
End-user Industries (Consumer Electronics & Home Appliances, Industrial, Data Processing & Communication, Aerospace & Defense, Automotive, Healthcare, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Renesas Electronics Corporation; STMicroelectronics N.V.; Silicon Laboratories Inc.; Infineon Technologies AG; Panasonic Corporation; Epson Corporation; Microchip Technology Inc.; NXP Semiconductors N.V.; Cypress Semiconductor Corporation; and Sony Corporation
8-Bit Microcontroller Market Segment Insights
Based on end-user industries, the global 8-bit microcontroller market is divided into consumer electronics & home appliances, industrial, data processing & communication, aerospace & defense, automotive, healthcare, and others. The consumer electronics & home appliances segment is expected to constitute a key share of the market during the forecast period owing to miniaturization of consumer devices and rising demand for consumer electronic products such as microwave ovens, televisions, cameras, and others.
However, the healthcare segment is anticipated to expand at a rapid pace during the forecast period due to governments spending on healthcare sector and rising disposable income. Increased demand for accuracy needed in medical procedures, rising demand for microcontrollers, governments supportive plans for medical automation, and technological advancements is projected to boost the market.
On the other hand, the automotive segment is anticipated to expand at a rapid pace in the coming years owing to growing demand for 8-bit microcontrollers to enhance car safety features, entertainment systems, convenience functions, and government edicts on emission control. The strict rules and regulations related to improving road safety for pedestrians and drivers are anticipated to drive the market.
On the basis of regions, the global 8-bit microcontroller market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to prevailing high consumer base for Smartphone’s, tablets, and other electronics in the region. Increasing penetration of internet of things ecosystems in corporate places and houses is expected to fuel the market.
On the other hand, the market of Europe is expected to exhibit a rapid growth rate in the coming years due to presence of major manufacturers of equipment and automotive. However, the market of Asia Pacific is expected to exhibit a rapid growth rate during the forecast period owing to proliferation of various start-up business ventures in various developing economies, which provide important microcontroller services with innovations.
The global 8-bit microcontroller market has been segmented on the basis of
- Consumer Electronics & Home Appliances
- Data Processing & Communication
- Aerospace & Defense
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Renesas Electronics Corporation
- STMicroelectronics N.V.
- Silicon Laboratories Inc.
- Infineon Technologies AG
- Panasonic Corporation
- Epson Corporation
- Microchip Technology Inc.
- NXP Semiconductors N.V.
- Cypress Semiconductor Corporation
- Sony Corporation
Key players competing in the global 8-bit microcontroller market include Renesas Electronics Corporation; STMicroelectronics N.V.; Silicon Laboratories Inc.; Infineon Technologies AG; Panasonic Corporation; Epson Corporation; Microchip Technology Inc.; NXP Semiconductors N.V.; Cypress Semiconductor Corporation; and Sony Corporation.
Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.